The Industry and Commerce Association of Macao and the Brazil-China Chamber of Commerce and Industry have agreed to increase co-operation by Macao and Brazilian businesspeople and exchanges between them, Macao Economic Services says.

The Macao government agency issued a written statement saying representatives of the business groups signed an agreement to that effect in the Brazilian city of Rio de Janeiro, during a visit by Macao young entrepreneurs jointly arranged by Macao Economic Services and the Macao Young Entrepreneur Incubation Centre.

The agreement calls for the business groups to work for the economic development of Macao and Brazil, and to share news about their respective economies.

Representatives of the Youth Association of Returned Overseas Chinese Macao and the Chinese Association of Brazil signed a separate agreement, on exchanges between Chinese in Macao and Chinese in Brazil for the purpose of co-operating in developing Brazil, Macao and the Guangdong-Hong Kong-Macao Greater Bay Area, the Macao Economic Services statement says.